Archer Aviation releases second quarter results, LA air mobility network plans

American eVTOL manufacturer Archer Aviation reported a net loss of $106.9 million during the second financial quarter of 2024, widening its net loss of $184.1 million in the same period last year. The net loss was largely due to investments required to achieve key elements of the company’s commercialisation plan with continued investment into the design, development, test and certification of Archer’s Midnight eVTOL aircraft. The company’s total operating expenses amounted to $121.2 million, down from $181.4 million in the second quarter of 2023. In comparison to the same period last year, adjusted EBITDA loss increased by $17.5 million from an